Alaan, a spend management platform co-founded by Parthi Duraisamy and Karun Kurien, secures $48 million in Series A funding, marking one of the largest rounds in MENA. The investment, led by Peak XV Partners, will accelerate Alaan's expansion in Saudi Arabia and strengthen its automation features, which have saved finance teams over 1.5 million hours. Duraisamy notes, "Our fundamentals were very strong," highlighting the company's growth despite regulatory challenges.
Alaan, a spend management platform co-founded by Parthi Duraisamy and Karun Kurien, secures $48 million in Series A funding, marking one of the largest rounds in MENA. The investment, led by Peak XV Partners, will accelerate Alaan's expansion in Saudi Arabia and strengthen its automation features, which have saved finance teams over 1.5 million hours. Duraisamy notes, "Our fundamentals were very strong," highlighting the company's growth despite regulatory challenges.